Magnus Energy Agrees to Acquire KVR Resources

From: CCNMatthews Newswire | Date: December 16, 2005 | Copyright information

CALGARY, ALBERTA--(CCNMatthews - Dec. 16, 2005) - Magnus Energy Inc. (TSX VENTURE:MEI.A) (TSX VENTURE:MEI.B) ("Magnus") is pleased to announce that it has executed an agreement with KVR Resources Ltd. ("KVR") to effect a business combination (the "Transaction") whereby Magnus will acquire all of the outstanding common shares of KVR in exchange for, at the election of the KVR shareholder: (i) 1.40 Class A Shares of Magnus per KVR share; (ii) $2.10 in cash per KVR share; or (iii) a combination ...

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